Best Health Insurance Plans for Family

The health and well being of our family always take a priority over our own needs. That is the reason, most of us prefer to buy a family floater instead of individual covers. Getting a family floater saves you substantial money. Suppose there's a family of four, comprising of two adults and two children.

The premium paid if all the four members are covered under one family health plan, stands much lower compared to when four separate policies are bought. There are other pros to family floaters apart from the cost factor. In a family floater, the immediate family members such as newly wed spouse and new borns can be covered without hassles just by informing the insurer.

The only glitch with a family floater is that the cover is fixed and if it is exhausted on the treatment of one member during the policy term, any other member would not be able to avail further benefits from the plan, till the end of the term. Only when the policy is renewed, the sum assured is reinstated afresh.

No sub limits applicable on any major medical illness, medical procedures and joint replacement surgery

Lifelong renewal (no age limit for renewal)

Increased sum insured on every claim free year

Vices:

Waiting periods - 30 days initial waiting period, before which no coverage is given, 4 years waiting period for pre-existing diseases, 2 years waiting period for specific diseases like cataract, hernia, renal stones etc.

The insured aged above 46 years have to undergo medical tests to get insured

2). Max Bupa Heartbeat

Heartbeat is a family oriented health insurance plan. This plan extinguishes itself with unique features such as inbuilt maternity and new born benefits, no lower or upper cap on the entry age, and so forth. It is offered in three variants, silver, gold and platinum.

Waiting periods - 90 days initial waiting period, before which no coverage is given (except in case of an accident or emergency). 4 years waiting period for pre-existing diseases. 2 years waiting period for specific diseases like cataract, hernia, renal stones etc.

Automatic restoration of the basic sum insured (as soon as the cover is exhausted)

Bonus on the basic sum assured for every claim free year

No medical tests below 50 years of age

No TPA involved. Direct in-house claim settlement

24x7 toll free helpline

Cashless hospitalisation at +5400 network hospitals

Free telephonic medical consultation

Vices:

Waiting period – 4 years for pre-existing conditions. 30 days initial waiting period, before which no coverage is given. 2 years waiting period for specific diseases like cataract, knee replacement surgery and so forth. 1 year waiting period for specific diseases like hernia, renal stones, etcetera

Exclusions - Non-allopathic treatment, expenses on purely diagnostic tests without any positive sign of a disease, war and nuclear perils, circumcision, congenital diseases.

24 hrs hospitalisation limit is not applicable for 101 listed day care procedures

4). Oriental Insurance Happy Family Floater

Happy Family Floater comes with such coverage and benefits that getting covered under this plan really is a reason for any family to be happy. It comes in two variants, silver and gold.

Discount in OMP (Overseas Mediclaim Policy) premium when family floater policy is take

Discount in premium if TPA services not opted

Flexible sum assured

5% discount on premium on every claim free year (up to a maximum of 20%)

Vices:

Waiting period - 4 years for pre-existing conditions

Regular exclusions

5% loading charge on renewal

10% compulsary co-pay (Silver plan)

5). Tata AIG Wellsurance Family

Wellsurance Family is not a family floater plan. It is a family coverage plan. The difference between the two is that a family floater plan covers a family under a single sum assured while a family coverage plan covers each family member under independent sum assured. It comes in three variants, classic, supreme and elite.

Coverage:

Hospitalisation expenses

Post hospitalization expenses

Covers 11 critical illnesses

Ambulance charges

Virtues:

Daily cash benefit

ICU benefit

Children’s education benefit (in case of death/disability of the policyholder)

Convalescence benefit

Cashless claim settlement across a 3000+ network of hospitals in India

Free telephonic consultation with expert physicians

Discounts at selected skin care and fitness centers

Discounts on health check up at network hospitals

Double claim benefit – A claim can be filed even if the claim has already been filed under any other health insurance policy

Vices:

Waiting periods – 4 years for pre-existing condition. 90 days for critical illness benefit. A general waiting period of 90 days before which no coverage is given.

Policybazaar on app

Calculators

*The information provided on this website/page is only for information sake. Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices.